Online and telephone bank First Direct reduces rates on its Offset and Repayment mortgages and focuses on fee free mortgages

04-9-2013 — /EuropaWire/ — On Friday 23 August first direct, winner of Moneywise Most Trusted Mortgage Provider, reduced the rates on eleven of its Offset and Repayment mortgages by up to 0.2% to provide even better value to customers.  Borrowers with 25-35% deposit or equity are able to take advantage of these lower rates, which are offered with and without fees.

In addition to reducing its rates, the internet and telephone bank also offers a fee free* option across their mortgage range to help borrowers keep their upfront costs down.

first direct Repayment mortgages with rate reductions first direct Offset mortgages with rate reductions
 

  • 2 Year Fixed, 65% LTV, 1.69%, £1,999 fee – reduced from 1.89%
  • 2 Year Fixed, 65% LTV, 2.19%, £499 fee – reduced from 2.29%
  • 2 Year Fixed, 65% LTV, 2.39%, £99 fee – reduced from 2.49%
  • 2 Year Fixed, 65% LTV, 2.49%, fee free* – reduced from 2.59%
  • 2 Year Fixed, 75% LTV, 2.49%, £499 fee – reduced from 2.59%
  • 2 Year Fixed, 75% LTV, 2.79%, fee free* – reduced from 2.89%

 

 

  • 2 year Tracker, 65% LTV, 2.35%, £1,999 fee – reduced from 2.49%
  • 2 Year Fixed, 65% LTV, 2.69%, £499 fee – reduced from 2.79%
  • 2 Year Fixed, 65% LTV, 2.99%, fee free* – reduced from 3.09%
  • 2 Year Fixed, 75% LTV, 2.99%, £499 fee – reduced from 3.09%
  • 2 Year Fixed, 75% LTV, 3.29%, fee free* – reduced from 3.39%

 

 

Andy Forbes, Head of Retail Products at first direct commented:

“We want to make it easy for customers to get a great mortgage deal, removing the barrier of paying a fee.  So now, whether you have a high or low LTV, want a Tracker or Fixed rate, Offset or Repayment, there is a first direct fee free mortgage with a great rate that fits.”

-Ends-

For further information please contact Rebecca Hirst on 0113 276 6899, rebecca.hirst@firstdirect.com or Amanda Brown on 0113 276 6700, amanda.brown@firstdirect.com

Notes to Editors

New mortgage rates.

* Fee free means:

  • No arrangement fee
  • No booking fee
  • No standard valuation fee

first direct will cover the cost of one standard valuation where this is required as part of the mortgage application.  Additionally, where it is a straight forward transfer from another lender, first direct also pays the standard legal costs.

For the latest updates, visit the first direct Newsroom or follow us on Twitter.

first direct provides both telephone banking and online banking services to its 1.2m customers.  It offers a full range of personal banking products including its award winning Current Account and offset mortgages.

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